Victoria PLC (GB:VCP)
LSE:VCP
Top Page
Victoria
(LSE:VCP)
Select Model
Select Model
Rating:43Neutral
Price Target:
31.00 p
▼(-23.74% Downside)
Action:UpgradedDate:02/28/26
The score is held down primarily by weak financial performance (declining revenue, large losses, and high balance-sheet risk from negative equity) and a firmly bearish technical setup (price below all key moving averages and negative MACD). The earnings call adds some offset via improving EBITDA/margins and cost/CapEx discipline, but high net debt and ongoing demand pressure keep overall risk elevated.
Positive Factors
Improving EBITDA & margins
Sustained EBITDA improvement despite volume pressure signals that operational levers and pricing actions are working. If management sustains cost discipline and efficiency programs, higher recurring EBITDA margins can bolster cash generation and reduce reliance on financing over the next 2–6 months.
Negative Factors
Declining revenue and weak volumes
Sustained volume shortfalls indicate structural demand headwinds in discretionary and housing-related categories. Persistent revenue decline reduces operating leverage, makes fixed costs harder to cover, and lengthens the timeline for margin recovery even if efficiency programs progress.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving EBITDA & margins
Sustained EBITDA improvement despite volume pressure signals that operational levers and pricing actions are working. If management sustains cost discipline and efficiency programs, higher recurring EBITDA margins can bolster cash generation and reduce reliance on financing over the next 2–6 months.
Read all positive factors
Victoria (VCP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£36.91M
Dividend YieldN/A
Average Volume (3M)133.44K
Price to Earnings (P/E)―
Beta (1Y)0.11
Revenue Growth-9.72%
EPS Growth10.94%
CountryUK
Employees5,600
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-0.03
Shares Outstanding115,353,830
10 Day Avg. Volume121,648
30 Day Avg. Volume133,438
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.45
Price to Sales (P/S)0.11
P/FCF Ratio-1.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£60.00Price Target Upside47.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.17
Revenue Forecast (FY)£1.06B
Victoria Business Overview & Revenue Model
Company Description
Victoria (VCP) is a leading global manufacturer and supplier of carpets and floor coverings, specializing in the design, production, and distribution of a diverse range of flooring solutions including carpets, luxury vinyl tiles, and synthetic gra...
How the Company Makes Money
null...
Victoria Earnings Call Summary
Earnings Call Date:Dec 17, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jul 21, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a mixed performance, with significant efforts in operational efficiency and EBITDA improvement being offset by revenue declines and macroeconomic challenges. The company's strategic initiatives and strong market positions in specific regions are positive, but ongoing market volatility and increased net debt present notable challenges.Positive Updates
Increased EBITDA
EBITDA improved by over GBP 3 million to GBP 53.5 million, demonstrating margin increase despite a 7% volume reduction in revenue.
Negative Updates
Revenue Decline
Revenue for H1 was down 7% due to ongoing pressure on volumes, with demand about 20% to 25% below long-term trends.
Read all updates
Q2-2026 Updates
Positive
Negative
Increased EBITDA
EBITDA improved by over GBP 3 million to GBP 53.5 million, demonstrating margin increase despite a 7% volume reduction in revenue.
Read all positive updates
Company Guidance
During the Victoria Plc Interim Results Investor Presentation for Fiscal Year 2026, a number of key financial metrics and strategic initiatives were discussed. Revenue for the first half was reported to be down by approximately 7%, primarily due to ongoing pressure on volumes, while EBITDA showed an improvement of over GBP 3 million, reaching GBP 53.5 million. The company's net debt stood at just over GBP 1 billion, with management focusing on extending the maturity profile of this debt. Despite a challenging macro environment, the company has achieved an EBITDA margin improvement to 10.1%, with further margin improvements expected as internal initiatives such as manufacturing efficiencies and cost-saving measures continue to be implemented. Additionally, the company anticipates ongoing improvements in EBITDA margins across divisions, with significant cost savings expected to benefit into Fiscal Year 2027. Key initiatives include the reorganization of manufacturing operations from Belgium to Turkey, anticipated to deliver significant savings, and a new large tile manufacturing investment in Spain, which has been described as a EUR 31 million project expected to yield EUR 15 million in additional EBITDA at full capacity. Victoria Plc has also adjusted future CapEx guidance to GBP 50-55 million per annum, with a focus on maintaining a balance between cash generation and strategic growth investments.Victoria Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
25
Negative
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.08B | 1.12B | 1.27B | 1.48B | 1.02B | 662.30M |
| Gross Profit | 317.30M | 336.10M | 390.80M | 402.30M | 324.60M | 208.10M |
| EBITDA | -13.80M | -100.90M | 66.90M | 91.90M | 140.60M | 111.80M |
| Net Income | -231.20M | -264.40M | -108.00M | -91.80M | -12.40M | 2.80M |
Balance Sheet | ||||||
| Total Assets | 1.34B | 1.33B | 1.63B | 1.87B | 1.64B | 1.35B |
| Cash, Cash Equivalents and Short-Term Investments | 94.00M | 77.60M | 94.80M | 93.30M | 273.60M | 348.80M |
| Total Debt | 1.31B | 975.50M | 934.80M | 1.20B | 984.70M | 834.80M |
| Total Liabilities | 1.76B | 1.60B | 1.65B | 1.75B | 1.44B | 1.15B |
| Stockholders Equity | -411.80M | -273.10M | -22.20M | 119.00M | 202.60M | 208.20M |
Cash Flow | ||||||
| Free Cash Flow | -61.70M | -79.40M | -7.30M | -10.50M | 14.80M | 29.00M |
| Operating Cash Flow | 4.80M | -2.20M | 55.20M | 89.10M | 68.10M | 57.50M |
| Investing Cash Flow | -50.70M | -32.00M | -38.10M | -218.60M | -188.60M | -45.70M |
| Financing Cash Flow | 52.30M | 16.90M | -17.90M | -41.10M | 30.40M | 163.00M |
Victoria Technical Analysis
Neutral
40.65
Price Trends
25.20
Positive
31.70
Positive
50.59
Negative
Market Momentum
0.45
Negative
75.64
Negative
90.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:VCP, the sentiment is Neutral. The current price of 40.65 is above the 20-day moving average (MA) of 22.97, above the 50-day MA of 25.20, and below the 200-day MA of 50.59, indicating a neutral trend. The MACD of 0.45 indicates Negative momentum. The RSI at 75.64 is Negative, neither overbought nor oversold. The STOCH value of 90.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:VCP.
Victoria Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £56.56M | 3.42 | 20.89% | 0.55% | 2.64% | 23.89% | |
68 Neutral | £37.21M | 6.55 | 8.41% | 11.65% | -3.45% | -44.02% | |
64 Neutral | £31.89M | 7.91 | 8.31% | 7.98% | -3.45% | -35.25% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | £39.75M | 9.31 | -22.13% | 3.45% | -4.23% | -435.86% | |
48 Neutral | £12.48M | -1.63 | 0.16% | ― | -3.72% | ― | |
43 Neutral | £36.91M | -0.14 | 67.51% | ― | -9.72% | 10.94% |
* Consumer Cyclical Sector Average
GB:VCP
Victoria
32.00
-45.40
-58.66%
GB:CHH
Churchill China
290.00
-160.37
-35.61%
GB:CFX
Colefax
1,095.00
245.52
28.90%
GB:PMP
Portmeirion
90.50
-87.00
-49.01%
GB:ULTP
Ultimate Products plc
44.40
-19.98
-31.04%
GB:SDG
Sanderson Design Group PLC
55.00
10.85
24.58%
Victoria Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Victoria PLC cuts FY26 outlook but pushes ahead with efficiency and refinancing plans
Negative
Feb 23, 2026
Victoria PLC reported that trading conditions remain challenging, with Q3 revenue down around 3% year on year versus a 7% decline in the first half, largely due to lower shipments as rug manufacturing shifts from Belgium to Turkey. Excluding rugs,...
Business Operations and Strategy
Victoria CEO boosts stake with fresh share purchase
Positive
Feb 11, 2026
Victoria PLC said Chief Executive Officer Philippe Hamers purchased 92,108 ordinary shares in the company on 10 February 2026 on the London Stock Exchange. Following the transaction, Hamers’ holding increases to 694,400 shares, representing ...
Other
Victoria Director and Spouse Boost Stake with Purchase of 187,496 Shares
Positive
Jan 22, 2026
Victoria PLC reported that non-executive director Gavin Petken and his wife, Lorraine Petken, have acquired a combined 187,496 ordinary shares in the company on 21 January 2026 via market purchases on the London Stock Exchange. Following these tra...
Other
Victoria Non-Executive Director Increases Stake with 260,000-Share Purchase
Positive
Jan 13, 2026
Victoria PLC reported that non-executive director Steve Callaghan has acquired 260,000 ordinary shares in the company at a price of 37.93 pence per share on 9 January 2026 via the London Stock Exchange, giving him an interest equal to 0.23% of the...
Other
Victoria Non-Executive Director Increases Stake with 260,000-Share Purchase
Positive
Jan 13, 2026
Victoria PLC reported that non-executive director Steve Callaghan has acquired 260,000 ordinary shares in the company at a price of 37.93 pence per share on 9 January 2026 via the London Stock Exchange, giving him an interest equal to 0.23% of the...
Regulatory Filings and Compliance
Victoria PLC Updates Share Capital Following Employee Option Exercise
Neutral
Jan 13, 2026
Victoria PLC has transferred 6,375 ordinary shares from treasury to satisfy the exercise of employee share options under its 2020 Long Term Incentive Plan, at an exercise price of 5 pence per share. Following this small equity issuance from treasu...
Business Operations and StrategyExecutive/Board Changes
Victoria PLC appoints turnaround expert Steve Callaghan as Senior Independent Director amid board reshuffle
Positive
Jan 8, 2026
Victoria PLC has strengthened its board by appointing seasoned turnaround specialist Steve Callaghan as a Non-Executive Director and Senior Independent Director, while long-serving director Andrew Harrison steps down after 13 years. Callaghan, who...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.